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Adelis Equity Partners raises €420m for debut fund

13 Nov 2013

stockholm_lrgNordic private equity firm Adelis Equity Partners has closed its maiden fund on its €420m hard cap after less than a year on the road.

The fund has already made its first deal, having backed Swedish logistics company Logent AB, which is expected to post revenues of SEK1.3bn ($195.5m) this year.

Adelis Equity Partners Fund I, which was launched in February this year, will focus on Nordic lower mid-market businesses with enterprise values of €20m to €200m.

Adelis co-managing partner Gustav Bard said, “(We also pleased) that we were able to establish what we believe is the largest on-shore private equity fund operating in the Nordic Region. Adelis Equity Fund I is a standard Swedish limited liability company.”

Stockholm-based Adelis held a €230m first close for the vehicle in August so it could begin putting capital to work in lower mid-market deals across the Nordics.

Earlier this year Adelis poached 3i partner Steffen Thomsen following 12 years with the UK firm.

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